Bessent Sees Subdued Core Inflation in US, Despite Above-Target Figures

U.S. Treasury Secretary Scott Bessent has made some interesting comments about core inflation in the United States, excluding energy-related segments. According to him, this type of inflation remains very subdued.

This statement comes after recent data showed that core inflation, measured by the Consumer Price Index (CPI) less food and energy, stood at 2.9% year-over-year in May 2026, while core Personal Consumption Expenditures (PCE) was at 3.3% in April 2026. Both figures are above the Federal Reserve's 2% target.

Market participants are closely monitoring these developments as they may influence expectations for future monetary policy adjustments by the Federal Reserve.